Section 716

The payment out of capital must be approved by a special resolution of the company. The resolution must be passed on, or within the week immediately following, the date on which the directors make the statement required by section 714. A resolution under this section is subject to— section 717 (exercise of voting rights), and section 718 (disclosure of directors' statement and auditors' report).

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Source: legislation.gov.uk · retrieved 2026-09-04